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Does fear of crime affect apartment prices?

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  • Vania Ceccato

    ()

  • Mats Wilhemson

Abstract

Evidence shows that crime affects housing prices. However, whether fear of crime impacts equally on prices of properties is an issue little investigated in the international literature. In this article we assess the impact of perceived safety on housing prices in the city of Stockholm, capital of Sweden. The study uses data over apartment sales and responses of 2008's Stockholm Safety Survey aggregated by parishes. The effect of perceived safety is assessed using hedonic pricing modelling controlling for a number of land use covariates using Geographical Information System (GIS). The paper finalises with a discussion of the key findings of study.

Suggested Citation

  • Vania Ceccato & Mats Wilhemson, 2011. "Does fear of crime affect apartment prices?," ERSA conference papers ersa10p1012, European Regional Science Association.
  • Handle: RePEc:wiw:wiwrsa:ersa10p1012
    as

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    File URL: http://www-sre.wu.ac.at/ersa/ersaconfs/ersa10/ERSA2010finalpaper1012.pdf
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    References listed on IDEAS

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    1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    2. Steve Gibbons, 2004. "The Costs of Urban Property Crime," Economic Journal, Royal Economic Society, vol. 114(499), pages 441-463, November.
    3. Pope, Jaren C., 2008. "Fear of crime and housing prices: Household reactions to sex offender registries," Journal of Urban Economics, Elsevier, vol. 64(3), pages 601-614, November.
    4. Marko Kryvobokov & Mats Wilhelmsson, 2007. "Analysing location attributes with a hedonic model for apartment prices in Donetsk, Ukraine," International Journal of Strategic Property Management, Taylor & Francis Journals, pages 157-178.
    5. Thaler, Richard, 1978. "A note on the value of crime control: Evidence from the property market," Journal of Urban Economics, Elsevier, vol. 5(1), pages 137-145, January.
    6. Vania A Ceccato & Folke Snickars, 2000. "Adapting GIS technology to the needs of local planning," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 27(6), pages 923-937, November.
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